Chinese city is set to house free trade zone

China is preparing to open a free trade zone in Shanghai as a part of an effort to liberalize the economy. The legislature has given the State Council authority to change rules for foreign companies within the 11.2-square-mile zone. The council is expected to eliminate many administrative approvals normally required of foreign-funded enterprises and joint ventures.

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Xinhuanet.com (China) · South China Morning Post (Hong Kong) (free registration) · Bloomberg

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